Families shocked after NDIS provider put into liquidation in South East NSW

Families have been left in limbo after a popular National Disability Insurance Scheme (NDIS) provider focusing on childhood development was placed into liquidation after four decades of operation. Not-for-profit organisation PlayAbility provides inclusive playgroups, individual support to children and their families, speech pathology, psychology and a mobile toy library in South East NSW. The business…

The new case of early release of retirement savings for “cessation of self-employed activity” as a result of liquidation proceedings: the PERCOL does not necessarily have to emanate from the liquidated company

Facts  Mrs F stated that as a former employee of Group X, she held a PERCOL that had been opened with account keeper A. She explained that she had left Group X to set up her own company, SAS Y. However, some time after it was created, SAS Y ran into financial difficulties and, in…

Claire’s France avoids liquidation, for now

Paris – The Paris Commercial Court kept the French subsidiary of low-cost jewellery retailer Claire’s in receivership on Thursday. This decision followed the submission of a takeover bid from three companies, which was deemed “very minimalist” by lawyers for the staff representatives. The court opened receivership proceedings for Claire’s France at the end of July.…

Uganda-based Madhvani Group’s firm, Independent Sugar Corporation Limited (INSCO), has assumed full control of the debt-ridden Hindustan National Glass & Industries Limited’s (HNGIL) through the Insolvency and Bankruptcy Code process

The Uganda-based Madhvani Group’s firm, Independent Sugar Corporation Limited (INSCO), has assumed full control of the debt-ridden Hindustan National Glass & Industries Limited’s (HNGIL) through the Insolvency and Bankruptcy Code process on Friday. The acquisition was led by industrialists, Kamlesh Madhvani and Shrai Madhvani, with financial support from Cerberus Capital Management and the International Finance…